Macerich Company (The) $MAC Shares Acquired by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Macerich Company (The) (NYSE:MAC) by 16,284.9% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 1,807,253 shares of the real estate investment trust’s stock after acquiring an additional 1,796,223 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Macerich were worth $45,525,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of MAC. Fifth Third Bancorp boosted its holdings in Macerich by 14.7% in the 1st quarter. Fifth Third Bancorp now owns 3,666 shares of the real estate investment trust’s stock worth $69,000 after acquiring an additional 471 shares during the period. HighTower Advisors LLC lifted its holdings in Macerich by 1.2% in the 4th quarter. HighTower Advisors LLC now owns 46,116 shares of the real estate investment trust’s stock worth $851,000 after buying an additional 530 shares in the last quarter. Farther Finance Advisors LLC boosted its position in Macerich by 76.8% in the 4th quarter. Farther Finance Advisors LLC now owns 1,347 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 585 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Macerich by 2.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 24,659 shares of the real estate investment trust’s stock valued at $455,000 after acquiring an additional 622 shares in the last quarter. Finally, Osaic Holdings Inc. increased its position in shares of Macerich by 5.5% during the fourth quarter. Osaic Holdings Inc. now owns 12,116 shares of the real estate investment trust’s stock worth $224,000 after acquiring an additional 637 shares during the last quarter. 87.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on MAC shares. Compass Point reiterated a “neutral” rating and set a $26.00 target price (up from $23.00) on shares of Macerich in a research note on Friday, June 26th. Evercore set a $25.00 price objective on shares of Macerich in a research note on Thursday, August 6th. KeyCorp raised their price objective on shares of Macerich from $25.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, June 10th. Weiss Ratings raised shares of Macerich from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, August 12th. Finally, Scotiabank increased their price target on shares of Macerich from $24.00 to $27.00 and gave the stock a “sector outperform” rating in a research report on Thursday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $26.00.

Macerich Stock Down 0.4%

MAC opened at $23.43 on Thursday. The stock’s 50 day moving average price is $25.00 and its 200 day moving average price is $22.53. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market cap of $6.64 billion, a P/E ratio of -36.04, a P/E/G ratio of 1.69 and a beta of 2.06. Macerich Company has a 12 month low of $16.03 and a 12 month high of $26.67.

Macerich (NYSE:MAC) last posted its quarterly earnings data on Tuesday, August 4th. The real estate investment trust reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.05). The company had revenue of $249.71 million during the quarter, compared to analyst estimates of $239.77 million. Macerich had a negative return on equity of 6.26% and a negative net margin of 16.85%.The business’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.33 EPS. As a group, research analysts predict that Macerich Company will post 1.49 earnings per share for the current year.

Macerich Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 28th. Shareholders of record on Monday, September 14th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Monday, September 14th. Macerich’s dividend payout ratio (DPR) is presently -104.62%.

About Macerich

The Macerich Company (NYSE: MAC) is a real estate investment trust (REIT) that specializes in the acquisition, development, ownership and management of regional shopping centers in the United States. Headquartered in Santa Monica, California, the company focuses on high-quality retail properties, including enclosed malls, open-air centers and mixed-use lifestyle destinations. Since its establishment as a REIT in 1994, Macerich has pursued a disciplined strategy of investing in properties that serve strong consumer demographics and offer long-term growth potential.

Macerich’s core activities encompass property and asset management, leasing, marketing and redevelopment services.